Price support will be beneficial to producers but costly to consumers.
Price support refers to efforts by a government to keep the price of a commodity higher than it should be were it priced based on supply and demand.
Ways the government can do this include:
- Subsidies
- Production quotas - limiting the quantity produced
- Price controls
Price supports make prices higher than they should be which would give producers more profit therefore tennis racket producers benefit.
On the other hand, they make things more expensive for consumers who will be forced to spend more than they usually do on tennis rackets thereby making it costly to them.
In conclusion, price controls help producers but are costly to consumers.
<em>Find out more at brainly.com/question/2124058.</em>
The options available are:
A. Import oriented economy
B. Lack of infrastructure
C. Problems with immigration
D. Civil wars
Answer:
B. Lack of infrastructure
D. Civil wars
Explanation:
Lack of infrastructure in Africa is one of the major problem that prevents Africa from being able to fully utilize its resources, this because there is not massive and robust factory infrastructures that can process many of its natural resources into refined and final resources. For example, in terms of crude oil and natural gas, there is no substantial refinery in Africa to process it to final products.
Civil wars is also one of the bane that is preventing the Africa from harnessing its resources, as civil wars leads to vandalization of the little infrastructures that is present there, it also affects the government policies, destroys human lives or resources, and scare away both local and foreign investors.
Immigration problems has nothing to do with the utilization of resources, as many Nldeveloped Nations faced the same problems, such as USA with the influx of Mexicans trooping into the country for greener pastures.
It is not import oriented economy either, because, import oriented economy is also one of the byproducts of lack of infrastructure.
The correct answer is a mixed economy.
A Mixed Economy is one where there is a mix of private and public enterprises present. Since the question indicated that there are private enterprises as well as public transportation and electricity, this is an example of a mixed economy.
<span>It will be important to take notes as it can help you avoid
inadvertently plagiarizing. Making careful notes can help one distinguish
between paraphrasing, exact quotes, and their original thoughts. This is
especially important when you are using many different types of resources
ranging from books to web pages to journal articles.</span>
